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BTCC / BTCC Square / Global Cryptocurrency /
DOJ Charges $236M Crypto Crime Ring That Spent Millions at Nightclubs

DOJ Charges $236M Crypto Crime Ring That Spent Millions at Nightclubs

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2025-05-16 05:04:02
0

U.S. prosecutors have expanded charges against a cybercrime syndicate accused of laundering $263 million in cryptocurrency through elaborate schemes involving mixers, shell companies, and even stuffed toys. The ring allegedly funneled illicit gains into luxury cars, nightlife excess, and high-end goods.

Twelve additional defendants—including Malone Lam (20) and Jeandiel Serrano (21)—were indicted in a case revealing sophisticated social engineering tactics. The unsealed charges coincide with FBI data showing crypto investment fraud surged to $5.8 billion in losses last year.

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